Funding you earn now, next payment 22:00 UTC+0.0686%/8h= +75.1% APRnext payment +$0.86 per $10,000 · paid last 24h +0.042%
Price spread now: Hyperliquid against Injective−0.118%53s7-day average +0.192% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.203%+$20 on $10k
+Price spread, last 3 days (all we have)+0.505%+$51 · spread now −0.118%, 7d avg +0.192%
=Together, before fees+0.708%+ Points / potential airdropHyperliquid: Season 2 · farm board+$71 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.310% cheaper against Injective than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of +0.192%). If the spread goes back, that is −$31 on $10k: about 36 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.203% in total) that is about 11 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.203% in total (about 10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.86 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PYTH/USDC PERP | 0.06350 | −0.0586 | get 0.0073% / 1h | 44m 30s | $561 | $180K | 5.5x |
| Short | Hyperliquid PYTH | 0.06342 | 0.0100 | get 0.0013% / 1h | 44m 30s | $1.7M | $1.4M | 5x |
Injective PYTH/USDC PERP
Hyperliquid PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $144.1
- Price spread: −0.118% → +0.192%
- −$31.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $104.05
- Costs to cover
- 0.090%
- Break-even
- 1.9 days
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 6 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Injective no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 6 min ago | 1.26 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
PYTH on 23 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERPlong | −0.0586% | 1h | 0.06350 | long leg | $561 | $180K | 5.5x | |
| Deribit PYTH_USDC-PERPETUAL | −0.0380% | 1h | 0.06348 | −0.031% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06341 | −0.150% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0118% | 4h | 0.06332 | −0.283% | $1.1M | $464K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0051% | 4h | 0.06339 | −0.173% | $7.4M | $5.0M | 50x | as long as short |
| Binance PYTHUSDT | −0.0016% | 4h | 0.06337 | −0.205% | $9.2M | $15.9M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0012% | 4h | 0.06337 | −0.205% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06347 | −0.047% | $188K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0017% | 4h | 0.06337 | −0.205% | $426K | $121K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.276% | $40K | $6K | 25x | as long as short |
Deribit PYTH_USDC-PERPETUAL
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
Bybit PYTHUSDT
Binance PYTHUSDT
MEXC PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTXShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06340 | −0.157% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06347 | −0.047% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06334 | −0.254% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06342 | −0.118% | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06345 | −0.081% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06339 | −0.173% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06346 | −0.063% | $1.5M | $312K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06339 | −0.173% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06340 | −0.157% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06345 | −0.078% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06342 | −0.132% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06339 | −0.173% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0424% | 1h | 0.06345 | −0.080% | $38K | $88K | 10x | as long as short |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP